HDFC Infrastructure Fund
HDFC Mutual Fund has launched a mutual fund that will target investments in the infrastructure fund. It is not surprising to see everyone getting into this bandwagon with a a hope to garner as much investment as possible for this sector given the fact that the Indian GDP growth cannot be achieved if Infrastructure does not perform.
This mutual fund joins the long list of similar finds launched by JM Mutual, Kotak, UTI in the recent past with similar themes.
Its objective is to see long-term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in or expected to benefit from growth and development of infrastructure. This is a close ended fund
The scheme aims to invest in sectors like airports, banking and financial services, cement and cement products, construction and related industries, electrical and electronic components, energy, oil & gas and allied industries, petroleum and related industries, ports, power and power equipment, telecom, industrial capital goods, etc.
The fund proposes to invest at least 65 per cent of the fund proceeds into Indian equities related to infrastructure and infrastructure related companies. It has an option of investing upto a maximum 35 per cent into equities other than infrastructure. It has an option to invest upto a maximum of 35% in Debt Securities and Money Market Instruments and Fixed Income Derivative.
The Scheme may seek investment opportunity in Foreign Securities (max. 35% of net assets). The Scheme may take derivatives position for hedging, portfolio balancing or to undertake any other strategy as permitted under SEBI Regulations from time to time (max. 20% of the net assets) based on the opportunities available subject to SEBI Regulations.
Scheme Details
Issue Opens: January 8, 2008
Issue Closes: February 21, 2008
Type: Closed-end, equity scheme with automatic conversion to an open ended fund after 3 years
Plan : Dividend Option,Growth Option. Dividend Option (with Payout Facility only).
Minimum Investment: Rs. 5,000 and in multiples of 100 thereafter
Entry Load: Nil
Exit Load: Nil.
The scheme will offer for redemption or switch over of units on an ongoing basis at monthly intervals at NAV-based prices and the redemption or switch over will be available on the first two business days of each calendar month.
8 comments:
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